Inside Story

How high will oil prices go?

Russia’s war on Ukraine has pushed up the price of oil to a ten-year high.

As the Russian invasion of Ukraine enters its second week, crude oil prices have risen to levels not seen in a decade.

Despite the rise in prices, other oil-producing countries and OPEC said they are sticking with their plan to gradually increase oil production.

The price of crude oil is expected to hit more than $120 a barrel this weekend.

The increase is already causing long queues at the pumps in some regions of the world.

So how will governments deal with this energy crisis?

Presenter: Hazem Sika


Alex Schindelar – President of Energy Intelligence and former editor of Petroleum Intelligence Weekly

Bjarne Schieldrop – Specialist on European energy politics

Ben Cahill – Senior fellow at the Energy Security and Climate Change Program at the Center for Strategic and International Studies